SatoshiLibrary

Cryptocurrency for Beginners

How Do Beginners BUY Bitcoin? 3 Easiest ways

2 min read
Whereas other platforms like Bingx appear to want to attract experienced traders. However, the ones mentioned above are the easiest for beginners to use.

How do Beginners BUY Bitcoin? 

Beginners usually buy Bitcoin on beginner-friendly crypto exchanges like Coinmama, CEX.IO and Binance.

These website are popular not only because they have credit/debit card payment options but they make it easy for newbies to easily buy other popular cryptocurrencies like BitcoinGold, Bitcoincash, Litecoin or Dogecoin.

How Beginners buy Bitcoin

First time bitcoin buyers usually prefer the crypto exchanges with the least steps because this makes them easier to use.

Here is a list of MY FAVORITE beginner friendly cryptocurrency exchanges starting with the one with the most basic features and straightforward check out experience.

Method 1: Coinmama

Coinmama is very easy to use and is the most beginner-friendly website.

It’s has very simplistic features which is perfect for absolute beginners who want to get their feet wet in Bitcoin for the first time.

It sells Bitcoin as well as other established cryptocurrencies.

The main downside of Coinmama is that it doesn’t list the newest trending blockchain tokens.

Method 2 : Cex.io

Cex.io is great option for US and Europe based it has the most extensive list of payment methods including Apple pay.

It also has a longer listing of Altcoins than Coinmama.

However, it is not as straight forward to use as Coinmama. 

But CEX.io is a great alternative for those want to buy Bitcoin with a debit card  Bitcoin instead of credit cards.

Method 3: Binance (Lite)

Binance is biggest cryptocurrency exchange in the crypto space.

The reason it’s so popular is because it not only sells hundreds of cryptocurrencies pairs but offers lots of interesting investing products like staking or early investing.

Binance has larger liquidity than most cryptocurrency exchanges which means that if you decide to buy altcoins, your order will go through faster at your set price (also known as limit orders) than.

Pro-tip: Binance has a lite and normal version.

The lite Binance version has all the advanced trading features stripped out.

What about DEXes? (decentralized exchanges/defi)

Decentralized exchanges are still in the early phases and NOT recommended for inexperienced investors.

Simply because you would need will need Btc or altcoins to be able to buy anything.

Other platforms

Some cryptocurrency platforms like Kraken and Kucoin tend to be geared towards geeks and techies-

Whereas other platforms like Bingx appear to want to attract experienced traders.

However, the ones mentioned above are the easiest for beginners to use.

TIPS:

  1. Be sure to select the correct Bitcoin: (BTC). Because BitcoinCash  (BCH) and BitcoinGold (BTG) are completely different cryptocurrencies and forks of Bitcoin,. The same goes with Litecoin (LTC).
  2. I recommend by starting with $10 just to go through test it for the first time. Just note that you will require more verification as the amount increases.
  3. Use  a separate Bitcoin wallet. Do not leave your cryptocurrencies on exchanges, while Bitcoin can not be hacked, cryptocurrency exchanges get hacked often. Also, they will not refund you if your phone or computer gets hacked.

Now that, you know where to buy Bitcoin, I would recommend checking out :

How to Safely store your Bitcoin

and after that:

I Have Bitcoin, Now What?

P.S

We care about your experience and closely monitor the comment section for feedback. So, if you found any of 3 above options above confusing or if you have any suggestions on how to make this post better, write a comment below,

Cheers,

-M

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *